The National Association of Insurance Commissioners’ 2025 report on the largest car insurance companies in the U.S. reveals the industry is continuing to consolidate: The top five insurers held a cumulative market share of 63.59% in 2024, up from 62.49% in 2023.
The top two providers, State Farm and Progressive, account for more than 35% of the market by themselves.
Liberty Mutual tumbled from the sixth to seventh place, with direct written premiums dropping from over $13 billion in 2023 to $11.7 billion in 2024. Nationwide, meanwhile, fell out of the top 10 entirely, slipping from No. 10 to No. 13.
The report also reinforces how car insurance rates continue to outpace the cost of living: While inflation increased 3% between 2023 and 2024, direct written premiums shot up more than 13%.
Paying too much for car insurance? Check out these options to save.
Offers in this section are from affiliate partners and selected based on a combination of engagement, product relevance, compensation, and consistent availability.
Geico auto coverage is available in all 50 states and the District of Columbia. It offers 16 discounts and a variety of optional add-ons, such as emergency roadside assistance, rental car reimbursement and mechanical breakdown insurance.
1. State Farm
State Farm Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
App available
-
Policy highlights
State Farm is one of the largest auto insurers in the U.S. based on market share. It has an excellent reputation for customer satisfaction and offers discounts for safe driving and young drivers.
The largest private passenger insurer in the U.S. since the 1940s, State Farm had nearly $68 billion in direct written premiums in 2024, up from about $58 billion in 2023. Its market share also increased, from 16.84% to 18.87%.
Beyond the numbers: What to know about State Farm
- Founded in 1922, State Farm is also the largest homeowners insurance company in the U.S.
- It ranks above average for customer satisfaction on J.D. Power’s survey of the claims process but earned an F from the Better Business Bureau, which cited hundreds of unresolved complaints.
- Insuring multiple vehicles with State Farm can earn you a discount of up to 20%.
- State Farm does not offer new policies in Massachusetts or Rhode Island.
2. Progressive
Progressive Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
App available
-
Policy highlights
Progressive offers a number of lines of insurance to allow for bundling, and convenient tools to help you keep your coverage in your budget.
Holding onto the No. 2 spot, Progressive reported more than $60 billion in direct written premiums last year, with a market share of 16.73%.
Beyond the numbers: What to know about Progressive
- Founded in 1937, Progressive got a foothold in the market by insuring high-risk drivers.
- Safe drivers can reduce their deductible by $50 for every policy period without a claim or driving violation, down to $0.
- Progressive has far fewer complaints with the NAIC than expected for an insurer of its size but was ranked below average for customer satisfaction in every region by J.D. Power.
3. Geico
Geico Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
App available
-
Policy highlights
Geico coverage and services are available in all 50 states and the District of Columbia and there are 16 different types of discounts available. In addition to the standard coverage options, Geico offers various optional add-ons, such as emergency roadside assistance, rental car reimbursement and mechanical breakdown insurance.
A wholly owned subsidiary of Berkshire Hathaway, Geico kept the No. 3 slot this year, although its share of the market dipped from 12.3% to 11.63%. The Chevy Chase, Maryland-based company reported nearly $41.8 billion in direct written premiums in 2024.
Beyond the numbers: What to know about Geico
- A full coverage policy with Geico averages about $1,980 a year, nearly 20% below the industry average.
- Geico offers mechanical breakdown insurance, which covers parts even after the manufacturer’s warranty has expired.
- Originally known as the Government Employees Insurance Company, Geico was founded in 1936 to provide auto insurance to federal workers.
4. Allstate
Allstate Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
App available
-
Policy highlights
Allstate offers auto insurance customers a total of 14 discounts in addition to a pay-per-mile car insurance program. It offers quotes by phone, through an agent, or online. The company also offers a number of other insurance products to bundle your coverage and save.
Allstate’s market share remained fairly static at 10.19%, while direct written premiums increased to $36.58 billion in 2024 from $32.85 billion in 2023.
Beyond the numbers: What to know about Allstate
- Customers who use Allstate’s Drivewise telematics system can get a discount of up to 25%.
- Allstate’s Milewise pay-by-mile insurance is only available in 18 states.
- Originally a line of tires sold by Sears, Allstate became the retailer’s auto insurance offering in 1931 and was sold by through the Sears catalog.
5. USAA
USAA Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
App available
-
Policy highlights
USAA’s auto insurance is limited to service members, veterans and their families but it is available in all 50 states and Washington D.C. In addition to low rates and outstanding customer service, it has coverage options for unique circumstances, such as active deployment.
While only available to active duty service members, veterans and their families, USAA still nabbed the No. 5 spot and 6.17% of the auto insurance market. It reported $22.13 billion in written premiums in 2024.
Beyond the numbers: What to know about USAA
- The United Services Automobile Association (USAA) also issues homeowners insurance, life insurance and annuities, as well as home loans and a full line of banking services.
- While it is not officially ranked by J.D. Power, USAA’s customer satisfaction scores are the highest in the industry.
- Customers who bundle USAA home and auto insurance can save up to 15%.
6. FarmersÂ
Farmers Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
App available
-
Policy highlights
Farmers Insurance offers 23 discounts for auto insurance and issues policies in every state except Alaska, Delaware, Hawaii, Maine, New Hampshire, Rhode Island, Vermont, West Virginia and Washington, D.C.
Farmers Insurance rose from seventh to sixth place and reported close to $13.5 billion in written premiums in 2024. Its market share declined, however, from 4.18% to 3.76%.
Beyond the numbers: What to know about Farmers
- Founded in 1928, Farmers has been a subsidiary of Swiss-based Zurich Insurance Group since 1998.
- Drivers who remain accident-free for three years can avoid having their rates raised after one at-fault collision.
- Farmers auto insurance is not available in Alaska, Delaware, Hawaii, Maine, New Hampshire, Rhode Island, Vermont, West Virginia or Washington, D.C..
7. Liberty Mutual
Liberty Mutual Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
App available
-
Policy highlights
Liberty Mutual offers auto insurance policies that are available nationwide and customizable to fit your wants and needs. It also has several discounts to help drivers save, including a discount for bundling home and auto insurance, as well as discounts for students and military members.
Liberty Mutual fell from sixth to seventh place, with its market share declining from 4.20% in 2023 to 3.27% in 2024. The Boston-based company reported $11.74 billion in direct written premiums last year, down from $13.31 billion the year before.
Beyond the numbers: What to know about Liberty Mutual
- Service at partner garages is guaranteed by Liberty Mutual for as long as you own the vehicle.
- MexPro offers customizable coverage options for Liberty Mutual customers driving in Mexico.
- Teachers have their deductible waived if their car is vandalized or in a collision on school grounds or during a school-related event.Â
- Liberty Mutual receives far more than the expected number of complaints for an insurer of its size, according to the NAIC.
8. Travelers
Travelers Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
App available
-
Policy highlights
Travelers auto insurance policies are affordable and backed by the sixth largest company for car insurance by market share according to the NAIC. The company also offers a number of discounts to customers, including discounts for bundling, owning a hybrid or electric car, and good student discounts.
Travelers moved up from ninth to eighth place in 2025, although its market declined from 2.08% to 2.00%. It reported $7.18 billion in direct written premiums last year, up from $6.58 billion in 2023.
Beyond the numbers: What to know about Travelers
- Drivers who enroll in Travelers’ IntelliDrive telematics program can save up to 30%.
- Optional add-ons include roadside assistance, gap insurance, rental car coverage, accident forgiveness and rideshare insurance.
- In J.D. Power’s customer satisfaction survey, Travelers was the highest-ranking auto insurer in the New York region.
9. American Automobile Association (AAA)
AAA Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
Policy highlights
The American Automobile Association (AAA) is a nationwide network of motor clubs offering car insurance underwritten by third parties, so coverage options and customer service may vary by state. Membership in AAA provides access to benefits like roadside assistance, identity theft protection and discounts on travel, dining and shopping.
AAA provides a variety of services to members across the U.S., including auto insurance through third-party underwriters like the Automobile Club of Southern California and the Automobile Club Group. It broke into the top 10 for the first time this year, reporting $6.47 billion in written premiums in 2024, up from $4.83 billion in 2023. AAA’s market share increased slightly, as well, from 1.53% to 1.80%.
Beyond the numbers: What to know about AAA
- Membership in AAA includes discounts on shopping, dining, hotels and more.
- AAA’s underwriters were J.D. Power’s top-ranked insurers in the California and Southwest regions.
- Drivers over 55 who complete a safe driving course are eligible for a discount of up to 15%.
10. American Family
American Family Auto Insurance
-
Cost
The best way to estimate your costs is to request a quote
-
Policy highlights
American Family offers affordable car insurance with more than a dozen discounts to further lower your premium. While its not available nationwide, American Family offers quotes online or through an agent, depending on your preference.
-
App available
American Family Insurance dropped from eighth to tenth place in 2025, reporting $6.17 billion in written premiums and a 1.72% market share.Â
Beyond the numbers: What to know about American Family
- According to the NAIC, American Family receives about half the complaints about car insurance as expected for a carrier of its size.
- Auto insurance is only available in 19 states.
- Bundling home and auto insurance with American Family can save you up to 23%.
How to save on car insurance
Shop around: There can be huge differences among insurance companies for the same basic policy. Get rate quotes from at least three providers every time you’re up for renewal to ensure you’re getting the best deal.
Pay your whole premium upfront: Most companies charge a fee for dividing your premium into monthly payments. You can often receive a discount for setting up autopay, as well.
Bundle home and auto insurance: Getting multiple lines of insurance from the same carrier doesn’t just simplify your life, it can result in discounts of up to 25%.
Take advantage of other discounts: Rate reductions are often available to safe drivers, good students, homeowners, members of the military and others. The nation’s largest car insurance company, State Farm has a discount of up to 30% if you use its Drive Safe & Save mobile app to track your driving.
Consider pay-per-mile insurance: If you don’t drive often, a pay-per-mile policy can save you more than 40% over traditional insurance. You’re charged a daily flat rate plus a few cents per mile.
Improve your credit score: In most states, insurance companies can use your credit history when calculating your rates. Paying off debts, lowering your credit utilization ratio and reporting errors or fraud are all ways to boost your FICO score.
Select a higher deductible: Raising your deductible from $200 to $500 can reduce the cost of collision and comprehensive coverage by as much as 30%, according to the Insurance Information Institute, while upping it to $1,000 can save you 40% or more. Just make sure you have adequate savings to cover the difference.
Car insurance FAQs
What are the largest auto insurance companies in the U.S.?
State Farm is the largest car insurance company in the U.S., with nearly $68 billion in direct premiums written in 2024 and a 18.87% market share. Progressive is the second largest, followed by Geico in third place.
Can you get a refund on your car insurance?
Most car insurance is paid on a monthly, biannual or annual basis. Typically, if you cancel a policy you’ve already paid for, you’ll get a prorated refund. There may be a cancellation fee, however.
How much does car insurance cost?
The amount you’ll pay for car insurance varies greatly depending on where you live, your age, your driving record and many other factors. The nationwide average for full coverage car insurance in April 2025 was $2,685 a year. For a liability-only policy, it was $800 a year.
What is a deductible in car insurance?
Your car insurance deductible is the amount you’re responsible for paying for repairs or replacement of your vehicle before your insurer contributes anything. Drivers can select their deductible when buying a policy and, typically, a higher deductible means lower premiums.Â
Subscribe to the CNBC Select Newsletter!
Money matters — so make the most of it. Get expert tips, strategies, news and everything else you need to maximize your money, right to your inbox. Sign up here.
Why trust CNBC Select?
At CNBC Select, our mission is to provide our readers with high-quality service journalism and comprehensive consumer advice so they can make informed decisions with their money. Every insurance article is based on rigorous reporting by our team of expert writers and editors. While CNBC Select earns a commission from affiliate partners on many offers and links, we create all our content without input from our commercial team or any outside third parties and we pride ourselves on our journalistic standards and ethics.
Catch up on CNBC Select’s in-depth coverage of credit cards, banking and money and follow us on TikTok, Facebook, Instagram and Twitter to stay up to date.
Editorial Note: Opinions, analyses, reviews or recommendations expressed in this article are those of the Select editorial staff’s alone, and have not been reviewed, approved or otherwise endorsed by any third party.
